Railway PSU RITES’ 2016-17 total income up 18%

Railway PSU RITES’ 2016-17 total income up 18%

The government on Monday reported that its specialised railways’ engineering consultancy firm RITES has recorded a 18 per cent increase in its total income for 2016-17. “Despite severe competition from domestic and foreign consultancy companies, RITES recorded PAT (profit after tax) of around Rs 330 crore on a turnover of Rs 1,508 crore,” the Ministry of Railways said in a statement. “The company has also issued two bonus issues during the year, increasing its paid-up capital from Rs 100 crore to Rs 200 crore.”

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Credit- The Financial Express

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